Central Bank Raises 47b Br from Latest T-bill Auction

Feb 19 , 2022

The treasury bill auction held on February 9, 2022, managed to raise 47.3 billion Br. The National Bank of Ethiopia (NBE) had 16 billion Br worth of bills on offer during the latest round of its bi-weekly auction. Bidding parties, which are mostly financial institutions and pension funds, offered 49 billion Br, triple what the central bank offered. Subsequently, the NBE accepted 47 billion Br of the total at a cut-off yield rate of 7.9pc to 12pc The highest yield rate was for T-bills with a maturity period of 182 days, which also attained the highest bid value at 18.5 billion Br. The lowest yield rate went for 28-day bills at 7.9pc. The previous auction held at the end of last month generated 14.6 billion Br. T-bills are a tool used to finance the government's budget deficit. A few weeks ago, Parliament approved a 122 billion Br supplementary budget, which officials say will be wholly covered by domestic sources.


High-Level Event Aims to Address Humanitarian Crisis

Development partners and government officials are expected to discuss improved humanitarian responses at a crucial event in Geneva, Switzerland this week. Co-hosted by the Ethiopian government and the UN Office for the Coordination of Humanitarian Affairs (OCHA), the primary goal is to secure pledges from both development partners and the government, according to officials. Millions face hardship due to conflicts, economic downturns, climate shocks, and disease outbreaks, according to a UN st...


Mastercard Announces Up to $2.5m Grants for Agribusinesses

Small and medium enterprises (SMEs) in the agricultural sector are poised for financial support as the Mastercard Foundation Fund pledges to award grants over the next three years. The Agribusiness Challenge Fund will award grants ranging from half a million dollars to 2.5 million dollars to qualifying businesses in Ethiopia and 19 other countries. According to Smita Sanghrajika, an engagement partner at the Foundation, agribusinesses have lacked the financial resources needed to scale up and...


Document Authentication Service Gets Fee Revamp

The Council of Ministers approved a new regulation for the Federal Document Authentication & Registration Service last week which introduces a two-tier fee structure for citizens and foreigners, with an overall increase. Beginning at 100 Br for citizens seeking document authentication for an assigning agency of single documents, the ceiling goes up to 500 Br while foreigners pay double these rates. Implementation of the new fees began this week. These changes come alongside a digitisat...